Los Angeles daily herald., 1887-05-05
DAILY HERALD.
TEE NAIL FACTORY.
A start Made which Promises
success.

IA HNAEt NHhat "
success.
A large number of prominent citizens
mot last night in the rooms OF the BOARD
Of Trade, 3. B. Lewis ia the chair, stor
the purpose of considering the project OF
establishing q nail factory in Los An
geles. Secretary Lawrencs read letters
from H.. IL. Swift Of Oakland and
from John Bryson commendatory OF the
project and Offering to subscribe as fol-
lows; Twenty-Five shares for MIR. Swift,
40 shares for MIR. Sheldon and $4,000
for Mr.. Bryson.
Mr.. Clapp said he had looked over
the ground and considered that there
was as bright an outlook for u nail fac.
tory here as in any palt OF the United
States. lie had figured up the cost oil
the plant. While he had no capital he
had something as good, experience, aud
his testimonials covered a period OF
twenty years. He had correspondence
from Oregon City offering him perpet-
ual lease OF a site free and water pow
er free for ten years. Il. w. Eastman
of the bank at that city had also written
to him on the subject He had looked
over this city and had found that 10000
kegs Of nails are imported here every
year and he had no doubt the demand
would amount to 100000 this year. In
start ig here the mistakes and expert
men made elsewhere would not nave
to be gone through with, as ad-
vantage could be taken of the latest I'M
proved machinery. According to his
figures 10 manufacturing, Cos kegs day,
the profit would be 1884 81 according to
the present market price. The cost OF
the nail factory with all machinery
would cost S3l, 900, rolling machinery
STA, 600, aud these with other machinery
would bring the total up to about Sil2,'
600. This would keep in use fifty ma
chimes and he thought that 600
kegs would not more than supply |
the demand. The rolling mill could |
turn out forty to forty-ive tons day !!
aud il run twenty,four hours the iron
turned out would amount to eighty tons |
per day. lie thought he could put up |
as good mill and manage it as well as
any ona and to testify to this he offered |
numerous testimonials.
Mr.. Steafns said that there was no
place more favorable to manufacturing |
interests than Los Angeles. The only |
thing to do was to statt the factory.
Mr.. Clspp said that enough scraps of
iron could be collected in the city to run
the nail factory for six months.
MIR. NJ. l. Wicks said there would not
be any trouble about iron since there |
tx.-l IL fhn - " xx n ar.s,l
enough material could be obtained to
run the mills of Pittsburg for five years,
from the ore in sight alone. He thought
that the enterprise should be started at
once. The iron ore in this county is as
rich as that mined in Alabama. Ii every
one would take an interest in the advan.
tages which nature provides, and would
encourage enterprises, the country would
be opened up wonderfully.
MIR. Stearns thought there would be
no difficulty in getting skilled labor.
Mr.. Redick, President of the South
ern California National Bank, said city
could not be built up without manufac-
lures. Omaha had started with real
estate boom which died out and
then the oily became the dullest
place imaginable. After awhile the
business men came to the conclusion
that they mast have Ranafactories. and
now Omaha is thriving place. A nail
factory had been started and was nov
the best paying institution in the place.
The wealthy inen of this city ought to
put their hands in their pockets and
start the enterprise bere.
Mr.. Wood said he had been formerly
engaged in the nail bushes, in the East.
He had started to look into the matter,
but had been discouraged by the capi.
talisis. He was satisfied that mil fac
tory would be benefit to the city.
Mr. Newmark said he thought bout
100, 600 Kegs of nails were sold here
every year, and his firm was prepared
to take sh area 10 the enterprise.
Mr. German recommended that
committee be appointed to see what
amount could be raised. He would sub.
scribe for $1,000 in stock.
The following were appointed as the
COMMITTEES: VIM. Lacy. G. q. Reynolds.
NJ. l.. Wicks, A. L. Bath, M. A. New
lnark, A. Haas, John Bryson, Jos.
Sohroder,>J. /. Redick and X. E. Gran.
dali
The meeting then adjourned.